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Fast Fashion Platform Shein Cuts Retail Prices in US
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The fast-fashion platform, Shein, lowered retail prices in the US following tariff cuts between China and the US, according to Bloomberg. Shein sent notifications to American consumers about the price reductions, promoting lowered prices across various styles and assuring consumers that they will not incur any costs or additional costs due to tariffs. The report tracked the average prices of 98 products on Shein's website noting that the price was US$5.56 on Wednesday (14th), down approx. 13% from its peak on last Wednesday (7th) of US$6.38. Since Shein hiked prices on 25 April, its sales in the US have been declining, the report added. Based on credit and debit card transaction data, sales for the week ended last Sunday (4th) fell 15% YoY. AAStocks Financial News Website: www.aastocks.com |
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